Pimco Is Overweight Software Stocks, Wary of `Unicorns'

The video discusses the evolution of the tech sector since 2000, highlighting the differences between established tech companies with strong growth and cash flow, and newer companies still incurring losses. It emphasizes the importance of distinguishing between these two categories for investment purposes. The discussion then shifts to corporate credit space, advising caution in high-yield investments and recommending a focus on securitized investments like non-agency mortgages due to their fair risk premium relative to history.

In what way does the speaker suggest keeping the high yield book?

What is the speaker's view on the risk premium in the securitized area?